FAQ

Q: When was the Banking Inquiry set up?

The Committee of Inquiry in to the Banking Crisis (the “Banking Inquiry”) was formally established in November 2014 under the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013. It was the first inquiry to be set up under the Act.

Q: What has the Banking Inquiry been set up to establish?

The purpose of the Inquiry was to inquire into the reasons Ireland experienced a systemic banking crisis, including the political, economic, social, cultural, financial and behavioural factors and policies which impacted on or contributed to the crisis and the preventative reforms implemented in the wake of the crisis.

Q: How long will the Inquiry take?

The final report of the Inquiry was published in January 2016. It officially commenced in November 2014.

Q: What was the format of the Inquiry?

There were two distinct phases to the Inquiry – a Context Phase and a Nexus Phase.

Context Phase – This phase framed the broad context for the inquiry and set out the background to the banking crisis. It consisted of technical briefings for the Committee members ensuring they were fully briefed on key technical issues. Following this, there were public hearings with relevant witnesses, for the purpose of information gathering to inform the next phase.

Nexus Phase – The objective of this phase was to identify the key questions to be addressed in the public hearings and the inquiry report; to identify and direct the provision of relevant evidence (written and oral), and to analyse all evidence and report on this analysis in the form of a final report. There are three steps in this phase (1) an investigation process, (2) public hearings and (3) the final report.